Retail

Poundstretcher signs new five-year agreement with Symphony RetailAI

By Symphony RetailAI

Symphony RetailAI, the leading global provider of AI-enabled retail solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain, today announced a five-year Software-as-a-Service (SaaS) contract with Poundstretcher which will see the discount retailer migrate its 460-store supply chain to the cloud.

Poundstretcher has been successfully running its warehouse operations for more than a decade using Symphony RetailAI warehouse management and voice solutions, but with aggressive growth plans the retailer required a fast and easy way to move ahead. The new agreement will see the company upgrade its existing warehouse solution via the cloud, enable new ways of picking using smart technology, enable more complete insights into the business, and streamline the rest of its operational technology.

As part of this process, over the next 12 to 18 months Poundstretcher will be revamping and standardising its master data management, which will lay the foundation for an upgrade of its supply chain backbone. Next, it will equip store personnel with mobility solutions containing data insights capabilities that will enable inventory management from anywhere on store premises. In addition, Poundstretcher will implement business dashboards that will give real-time visibility across its complete portfolio – from warehouse to store. The final phase will include the rollout of automated store allocation and replenishment.

Executive Chairman Nadir Lalani at Poundstretcher said: “We are investing in our IT infrastructure to ensure that our business is underpinned by technology that is flexible, reliable and low-risk. This upgrade provides us with peace of mind for the next five years and gives us a stable platform on which to build as the business grows.”

Arnaud Gauthier President & CCO EMEA at Symphony RetailAI added: “It’s a testimony to our team and our products that Poundstretcher has continued – and increased – its commitment to Symphony RetailAI. With a new cloud platform and extended functionality, we look forward to working alongside Poundstretcher as it strengthens its position in the UK market.”